Swissport plans to reduce 60 percent of workforce

Airport ground services company Swissport has lost 70-80 percent of its global revenue as coronavirus brings the travel industry to a halt. “It is almost impossible for us to reduce costs fast enough in order to make sure the cash burn is somehow sustainable,” said CEO Eric Born.

Grounded fleets and travel restrictions have made services such as airline check-ins and baggage handling redundant in airports. Swissport plans to furlough about 60 percent of its workforce by the end of April.

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